Silicon Motion Technology Corp. (NASDAQ:SIMO) Receives $48.80 Average Price Target from Analysts

Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) have received an average recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $48.80.

Several analysts have commented on SIMO shares. Roth Capital increased their price target on shares of Silicon Motion Technology from $45.00 to $55.00 in a research report on Wednesday, October 30th. Needham & Company LLC lifted their price objective on shares of Silicon Motion Technology from $44.00 to $55.00 in a research report on Wednesday, October 30th. ValuEngine lowered shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. BidaskClub cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. Finally, Zacks Investment Research upgraded shares of Silicon Motion Technology from a “sell” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Saturday, November 2nd.

A number of large investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Silicon Motion Technology in the third quarter worth about $36,000. CWM LLC raised its position in Silicon Motion Technology by 3,624.1% during the second quarter. CWM LLC now owns 1,080 shares of the semiconductor producer’s stock valued at $48,000 after acquiring an additional 1,051 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Silicon Motion Technology by 60.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,480 shares of the semiconductor producer’s stock valued at $66,000 after acquiring an additional 557 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Silicon Motion Technology by 19.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,298 shares of the semiconductor producer’s stock valued at $102,000 after acquiring an additional 379 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new stake in Silicon Motion Technology in the 3rd quarter worth approximately $98,000. 69.89% of the stock is currently owned by institutional investors.

Shares of SIMO traded up $1.09 during trading hours on Friday, hitting $44.12. The company had a trading volume of 138,177 shares, compared to its average volume of 183,439. The company has a market capitalization of $1.60 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 3.80 and a beta of 1.11. Silicon Motion Technology has a one year low of $30.86 and a one year high of $47.23. The company’s fifty day moving average price is $41.84 and its two-hundred day moving average price is $38.52.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.31. Silicon Motion Technology had a return on equity of 13.22% and a net margin of 13.16%. The company had revenue of $110.50 million for the quarter, compared to the consensus estimate of $112.08 million. During the same quarter last year, the company earned $0.95 earnings per share. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. Sell-side analysts predict that Silicon Motion Technology will post 1.67 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.35 dividend. This is a positive change from Silicon Motion Technology’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.40 dividend on an annualized basis and a yield of 3.17%. Silicon Motion Technology’s dividend payout ratio (DPR) is 40.76%.

About Silicon Motion Technology

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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